Motricity's IPO is moving closer to reality.
The technology company filed new details about its initial public offering today with the Securities and Exchange Commission, signaling that officials are getting serious about selling the stock to Wall Street investors.
The company disclosed that it plans to sell 6.75 million shares at $14 to $16 each. At the midrange price, Motricity would raise about $101 million before expenses.
The company first filed plans in January to raise as much as $250 million, hoping to take advantage of renewed investor interest in tech stocks.
Motricity develops software that allows wireless carriers such as AT&T and Verizon to sell digital content to their customers.
Motricity was previously headquartered in Durham, but CEO Ryan Wuerch, left, announced plans in early 2008 to relocate the company's main offices to Bellevue, Wash. Motricity still employs about 100 people in Durham, out of 350 companywide.
The IPO could happen as soon as the week of June 14, reports Renaissance Capital, an IPO research firm. Weak demand among investors, stock market volatility or other factors could delay the deal.
Motricity has filed to list its shares on the Nasdaq under the ticker symbol "MOTR."